C.C. No.197/2022

Bibekananda Mohapatra,

S/o. Late Banamali Mohapatra,

At- Nuabazar,

P.O./P.S.- Paradeep,

Dist.- Jagatsinghpur.………Complainant​

1. M.D., Cholamandalam Investment & Finance Co. Ltd.

Corporate office at: Dare House,

Chennai- 600001.

2. Branch Manager,

Cholamandalam Investment & Finance Co. Ltd.

Srima Construction Building,

Nayachowk, Madhupatana,

Cuttack- 753010.

3. Branch Manager,

Cholamandalam Investment & Finance Co. Ltd.

At- Bijayachandrapur (Near IFFCO Chhack),

P.O./P.S.- Paradeep,

Dist.- Jagatsinghpur.…..… Opposite parties

For Complainant………..Mr. S.K. Naik, Advocate

For Opposite Parties……….Mr. M.C. Swain, Advocate

ORDER BY HON’BLE MEMBER- MRS. M. SWAIN:

                                                                                             JUDGMENT

            Counsels for both parties are present and heard.    

            It is submitted by the counsel for both parties that the loan has been cleared on 30.8.2023 and loan has come to zero (O) on 05.9.2023 but so far NOC has not been issued because another loan is pending in respect of another vehicle which is also mortgaged/ hypothecated with opposite parties.

            We therefore held that NOC should be issued on favour of complainant immediately after clear of loan as the another vehicle is also hypothecated. Non issue of NOC after closure of NOC is deficiency in service. 

            We therefore direct the opposite parties to issue NOC within 30 days after receipt of the order of this Commission. Accordingly the consumer complaint is disposed of. No cost.

            Pronounced in the open Commission on this 8^th August,2024.